Taxation, Regulation, and the Level Playing Field

Robert Z. Aliber
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Robert Z. Aliber: University of Chicago

Chapter 15 in The New International Money Game, 2011, pp 219-235 from Palgrave Macmillan

Abstract: Abstract One way to get the trains to run on time is to straighten the tracks. Another is to use more powerful locomotives. A less costly way — indeed, the cheapest way — is to lengthen the time allowed for the journey. In the 1920s, the trip from Chicago to New York on the Twentieth Century Limited took 15 hours; passengers got refunds if the train was late, with the amounts of the refunds scaled to the length of the delays. The same journey on Amtrak now takes 19–20 hours on the Broadway Limited — and there are no refunds if the train is late. The mileage between Chicago and New York is constant. If the trains can’t adjust to the timetables, then the timetables adjust to the trains.

Keywords: Domestic Resident; Foreign Income (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24672-0_16

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DOI: 10.1057/9780230246720_16

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